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Applying for a home loan in the city of Mumbai is both a stressful time in life and an exciting time. The idea of owning a home for the first time, buying a larger home, or just moving to a new place can bring on an array of blissful emotions. Whether you are buying for yourself or your family, there …

The very word loan invites unwelcome thoughts about cash flow crunch, undesirable thoughts about repayment, recovery officers pounding at your door and numerous other depressing thoughts. True that, a person takes a loan when in need of money. But the very idea of taking a loan need not be stressful and uncalled for. It is a fairly simple way of …

If you consider the huge amount involved and the long tenure to repay it back, you may feel that home loan is a liability and stick to your rented house. But if you know about the advantages of buying your home by taking a loan, you will surely consider of availing one. You may argue that that the purchase of …

There is a constant speculation in the market on whether the interest rates will climb further, remain stagnant or decrease over a period. But, the harsh reality is that the recent rise in home loan rates has driven the budget of almost 3 million households, out of gear. The EMI’s have risen significantly and with a monthly salary unable to …

At the third bi-monthly monetary policy review on August 9, Reserve Bank Governor Raghuram Rajan did what was largely expected of him. He let the policy rates remain unchanged. The primary reason attributing to such a stance was the retail inflation which was still more than 5 percent, much above the comfort zone. Target inflation still away The government announced …

To face the challenge of high non-performing assets (NPAs), country’s largest lender State Bank of India (SBI) has started working on a multi-pronged strategy, including a certification programme for loan sanctioning officials. “In our bid to face the challenge of high-level NPAs the industry is currently faced with, we are working on a multi-pronged strategy,” bank’s chairman Arundhati Bhattacharya told …

Strong other income and robust growth in the retail (individual) book portfolio helped private sector banks report good earnings growth in the April-June quarter. Most banks met Street estimates and concerns on asset quality also stabilised, as the spikes in non-performing assets (NPAs) were along expected lines. Most lenders saw a rise in other income, which includes fees and commissions. …

Public sector IDBI Bank has reduced its base rate or minimum lending rate to 9.65 per cent per annum from from 9.75 per cent per annum earlier The Benchmark Prime Lending Rate (BPLR) is also reduced from 14.25 per cent to 14.15 per cent, the bank said in a release.The revision in the rates shall be effective from August 1, …

MUMBAI: Country’s largest private sector lender ICICI BankBSE 0.04 % today announced a 0.05 per cent reduction in its marginal cost of funds based lending rate (MCLR). The overnight MCLR will be 8.90 per cent under the revised rate structure which is effective from today, sources said. The RBI introduced the MCLR from April 1 this year for faster transmission …

MUMBAI: The Marginal Cost of Funds based Lending Rate (MCLR) system could become a tool for expanding business especially for the mid-sized private sector banks as it gives them an opportunity to offer lower rates in short-term maturities, opening up a new market which was so far not within the reach of these lenders. The new MCLR regime, which was …